#Canada; #NationWideRailShutDown; #IndigenousProtestors; #CNRail;
Ottawa, Feb 14 (Canadian-Media): As the nationwide rail shutdowns entered their second day, Canada's Federal Transport Minister Marc Garneau conveyed Ottawa's willingness to have talks with Indigenous protesters blockading the country's main rail artery, media reports said.
CN Rail strike. Image credit: Twitter
The Ontario Provincial Police (OPP) has so far refused to move protesters away from the rail lines, neither did the Mohawks concede to the police's request to stop the demonstration against the Coastal GasLink pipeline which had caused the closure of more than 150 routes.
Blockades against the proposed pipeline, whose route cuts through indigenous Canadian land, began last week in British Columbia.
JJ Ruest, CN's chief executive, called the situation "regrettable", but said the cancellations were due to circumstances "beyond our control".
Andrew Scheer, Conservative Leader said Friday that the prime minister should direct the RCMP to enforce the law.
"Quite frankly, this is getting ridiculous. Radical activists, many of whom have no connection to the Wet'suwet'en people, are holding our economy hostage...Do the right thing, Prime Minister Trudeau. We can't allow a small number of activists to hold our economy hostage and threaten thousands of jobs," Scheer said. "I believe it's time for the law to be enforced. Law enforcement should enforce the law."
Scheer argued the Coastal GasLink project will bring thousands of jobs and millions of dollars in support payments to First Nations communities.
When asked about the government's delay in taking action on southern Ontario rail action, Garneau said Ottawa has been actively engaged on the file and added,
"The government has been working every day...since this happened...Freedom of expression and peaceful protest are among the most fundamental and cherished rights in a democracy such as a Canada and must be respected and protected."
Garneau said the way forward is in "dialogue" and "building consensus."
The Mohawk activists were very firm in their decision not to end their demonstration until the RCMP leaves the traditional territory of the Wet'suwet'en in northern B.C.
The RCMP had made multiple arrests on Tuesday, and still has officers stationed near the pipeline construction site.
#Quebec; #Bombardier; #BombardierLost$1.6BillionUSIn2019; #Airbus
Quebec, Jan 13 (Canadian-Media): An announcement Thursday by Quebec aerospace giant Bombardier said about its decision to leave commercial aviation business after it reported a loss of $1.6 billion US in 2019, according to the release of its financial results for 2019 on Thursday, media reports said.
Bombardier. Image credit: Twitter
In an effort to pay off a multibillion-dollar deficit Bombardier had sold its remaining stake in the A220 program to Airbus, formerly known as the C Series.
This resulted in Airbus owning a 75 percent stake in the commercial jet program, while the Quebec government owns 25 percent.
Following the take over of the A220 and A330 work package production capabilities from Bombardier, Airbus would be paying $591 million US Bombardier, while Bombardier stop investing approximately $700 million US in the commercial jet program.
Included in the deal, Airbus said there was a three-year guarantee of the jobs of 360 constructor workers of the plane's cockpits of the Montreal borough of Ville Saint-Laurenthe, thereby securing the a total of 3,300 jobs in Quebec.
Meanwhile, Quebec Economy Minister Pierre Fitzgibbon's willingness to protect Quebec's investment in A200 program has been ruled out by Quebec's Premier François Legault.
Coronavirus; #Economy; #Canada; #U.S.; #OilIndustry
Ottawa, Feb 11 (Canadian-Media): A significant impact on North America's economy is being felt by Coronavirus outbreak, hardest hit sector expected to be oil patch, said Canada's Finance Minister Bill Morneau Monday, media reports said.
Bill Morneau. Image credit: Twitter
Speaking at the Economic Club of Calgary on Monday Morneau said a ripple effects throughout the world would be caused by the virus because of China's massive economic footprint.
Efforts to contain coronavirus is expected to impact U.S. economic growth by 0.4 percent in the first quarter, according to a recent Bloomberg report.
The demand for many industrial inputs have decreased due to Lockdowns in Wuhanand other hubs in Hubei province due to the coronavirus outbreak with the Oil prices having dropped 15 percent, Morneau said.
There have been exploitation of fears by criminal groups over the coronavirus to try to attack the global shipping industry.
#Canada; #StatisticsCanada; #CanadaEmployment; #CanadaEconomy
Ottawa, Feb 8 (Canadian-Media): Canada's increase of 0.2 percent employment rate due to addition of 35,000 full-time jobs in January resulted in pushing Canada's jobless rate down to 5.5 percent, said Statistics Canada Friday, media reports said.
Statistics Canada. Image credit: Facebook
Though the provinces of Quebec, Manitoba, and New Brunswick witnessed employment gains, Alberta lost almost 19,000 jobs
The job markets of other provinces showed little change.
There was not much change in the employment for all the major demographic groups in January.
Manufacturing and construction sectors witnessed an addition of 20,500 and 15,000 jobs respectively, but the service sectors like health care and social assistance lagged behind with the loss of 16,000 jobs.
#Manitoba, #Canada; #Immigration, #EOIDraw; #MPNP; #CRSScore; #SkilledWorker; #ExpressEntryVisa
Manitoba, Feb 4 (Canadian-Media): Invitations to immigration candidates vying for a provincial nomination for permanent residence, were issued during the 82nd Manitoba Expression of Interest draw which took place on Jan 30, media reports said.
Image credit: Facebook
A total of 181 Letters of Advice to Apply (LAAs) were sent by the Manitoba Provincial Nominee Program (MPNP) to candidates from three streams: Skilled Workers in Manitoba: 124; Skilled Workers Overseas: 39; and International Education Stream: 18.
11 out of the 181 LAAs issued in this draw were sent to candidates who had a valid Express Entry profile, enabling economic class immigrants to obtain permanent residence in Canada.
A Comprehensive Ranking System (CRS) score, is provided to those who choose the Express Entry route, that assesses their human capital factors such as age, work experience, education, and official language proficiency.
Candidates with the highest-scoring then are invited to apply for permanent residence in regular Express Entry draws.
With provincial nomination, an additional 600 points are granted to candidates with express entry toward their overall CRS score, effectively guaranteeing them an Invitation to Apply (ITA).
Consideration of a provincial nomination from Manitoba is based on Express Entry candidates having eligible work experience in one of Manitoba’s in-demand occupations, among other requirements. and must also submit a separate Expression of Interest to the MPNP.
Only those candidates through both the Skilled Worker in Manitoba and Skilled Worker Overseas categories, who have registered an Expression of Interest (EOI) with the MPNP, are invited for a provincial nomination from Manitoba.
An EOI is an online profile that is ranked out of a score of 1,000. Points are awarded for a candidate’s education, work experience, connections to Manitoba and proficiency in English or French, among other factors.
A set number of the highest-scoring candidates receive an LAA, allowing them to apply for a provincial nomination for Canadian permanent residence from Manitoba.
In the latest draw, the lowest-ranked candidate invited under the Skilled Worker in Manitoba Stream had a score of 548.
The lowest-ranked candidate invited from the Skilled Worker Overseas Stream had a score of 679.
The Skilled Worker Overseas Category allows the MPNP to select and nominate skilled foreign workers who can help support Manitoba’s labour market.
Candidates' established connection to Manitoba such as close family or friends, previous education or work experience in the province, or an invitation through one of the MPNP’s Strategic Recruitment Initiatives, are among other requirements.
They do not necessarily be in Manitoba at the time of application in order to qualify.
The 39 candidates invited through the Skilled Worker Overseas Stream were invited directly by the MPNP under a Strategic Recruitment Initiative.
Candidates invited through the Skilled Worker in Manitoba Category must be working in Manitoba and have a full-time, permanent job offer from their employer, among other criteria.
Manitoba graduates with in-demand skills may be invited under the International Education Stream which includes three sub-categories: Career Employment Pathway, Graduate Internship Pathway, and the Student Entrepreneur Pathway.
#Calgary; #Calgary'sPopulationIncreaseInPastDecade; OneOfFastestGrowingCitiesOfCanada; #5.5PercentDeclineInYoungAdults
Calgary, Feb 3 (Canadian-Media): In spite of increase in Calgary's population by more than 20 percent over the past decade, making it one of the fastest-growing cities in Canada, there has been a decline in the number of 20- to 24-year-olds by 4,400, about 5.5 percent, according to municipal census data, media reports said.
Image credit: Facebook
Calgary ranked 29th out of 35 metropolitan areas when it comes to the percentage of residents aged 20 to 24, In the latest population estimates from Statistics Canada, whereas a decade ago, it ranked fifth.
In Toronto, meanwhile, it's been the opposite. The city rose to ninth in 2018, up from 20th in 2008, as young people flocked to the city.
Fewer opportunities, talent competition, lack of leisure activities and culture are a few of many reasons young adults leave calgary to pursue higher education, better jobs with better prospects and a vibrant life elsewhere.
"They don't want to work in oil and gas — either because of the environmental implications of it or they just don't really see a future in that field — and feel like if they live in Calgary, that's kind of a written-in-stone future for them. So they felt the need to move away," said Chloe Loblaw, 20, who left Calgary after high school to study health sciences at McMaster University in Hamilton.
Dr. Laura Hambley, president of Calgary Career Counselling, has heard time and time again that many young people who come to her organization in search of career advice say they would like to stay in Calgary but aren't sure it's realistic.
"They want to choose careers that are viable and where there will be employment … and we're seeing lots of stories about young people who are bright and who have worked hard at post-secondary and yet cannot get a position."
This presents an immediate problem for young Calgarians, but Hambley worries it could also lead to bigger problems down the road for Calgary as a whole.
While employers in other North American cities have been engaged in a talent hunt, Hambley says many Calgary companies have been complacent in their recruiting, especially of young people, due to the fact that the existing workers are holding onto jobs longer.
Besides job, leisure, culture, politics, educational opportunities, and diversity of culture, are the other deciding factors for the young adults to move out of Calgary.
A lot of people are moving out to Toronto as Toronto is considered as a land of opportunity, with more diverse culture. Whereas in Calgary, one feels stuck into staying in one industry.
#Canada; #Economy; #CanadaEconomy; StatisticsCanada; #GDP; #ReutersPolls
Ottawa, Jan 31 (Canadian-Media): After Canada's economy's surprise decline in October, largely due by higher utility costs, it rebounded with 0.1 percent increase of Gross Domestic Product (GDP) in November, Statistics Canada data reported on Friday.
Statistics Canada. Image credit: Facebook
Statistics Canada, a federal government agency, formed in 1971 and headquartered in Ottawa, provides statistics to Canadians to better understand Canada, its population, resources, economy, society, and culture and enabling them to make informed decisions.
GDP is the quantitative measure of a nation's total economic activity and is representative of the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
November's GDP growth in Canada Chart. Image credit: Statistics Canada.
Contrary to the forecast by analysts in a Reuters polls that there would be no change after an unexpected 0.1 percent decline in October, 15 of the 20 industrial sectors tracked by Stats Canada reported 0.1 percent gain in goods-producing industries and the services sectors.
The jump of 2.1 percent utilities in November, the largest gain in more than a year, said Statistics Canada , was due to the unseasonably cold weather in central Canada.
November's GDP gain also comes despite the decline of mining, quarrying and oil and gas extraction by 1.4 percent, and potash mining decline by 18.2 percent.
#Canada; #MortgageMarket; #CanadaMortgageMarket; #BankOfCanada; #Coronavirus
Ottawa, Jan 29 (Canadian-Media): The impact of the fear of Coronavirus and its spread on Canada's mortgage market had prompted investors to put money in safe government bonds has pushed down the yield on that debt, media reports said.
Coronavirus. Image credit: Twitter
One of the factors affecting the rates of fixed- and variable-rate home loans is based on the price that lenders have to pay to borrow money themselves.
Although the return of the government debts is meagre, investors feel safer than losing money on riskier investments that they buy.
For fixed-rate Canadian home loans, the benchmark that sets the price that consumer rates are based on is the five-year Government of Canada bond.
The rates of variable-rate mortgages are based on what the Bank of Canada is doing, not bond yields which means home buyers with variable-rate loans can expect some relief soon.
Canada's fear of coronavirus and its spreading is one of factors that has caused the increase in the price of bonds and a drop this year in its yield of the five-year Canadian government bond from 1.7 percent to 1.3 percent.
This drop amounting to 40-point drop in a short time is considered to be huge and it's filtering down into the mortgage market.
Fixed-rate loans are falling, according to James Laird, CEO of mortgage broker Canwise Financial and co-founder of rate comparison website RateHub.ca.
In its policy decision last week, the Bank of Canada said it would keep its benchmark interest rate where it is for now.
Bank of Canada. Image credit: Twitter
Laird said that rate cuts are often seen in mid-February or March, regardless of what bonds are up to, but the sudden impact of the coronavirus had caused this to happen a little earlier and a little more dramatically than anticipated.
"It's not like rates were on the rise and the coronavirus caused them to do a U-turn," he said.
"I'd say this is another area which is putting downward pressure on bond yields, and therefore downward pressure on mortgage rates."
#HousingMarket; #FortMcMurray, #Alberta; World'sCheapestHomes
Alberta, Jan 24 (Canadian-Media): After facing market struggles since a severe wildfire in 2016, the so-called home of the oil sands, the Canadian city Fort McMurray, Alberta, has the most affordable housing market in the world, media reports said.
Alberta's Housing Market. Image credit: Twitter
The cost of a median-priced home at present is 1.8 times the median income, according to the 2020 edition of Demographia’s annual survey, up from fourth place last year.
The fluctuations in Canada's housing market is revealed by Vancouver in British Columbia having the the second least affordable global housing market.
Ottawa, Jan 10 (Canadian-Media): Addition of 35,000 new jobs in December to Canada's economy brought the total for the year 2019 as a whole to 320,000, much higher than Canada's economists' predictions, media reports said.
Economists had expected the number be around 25,000 new jobs total, so December's gain was slightly better than expected and could bring the jobless rate down three points to 5.6 per cent.
Most of the new jobs were added in Ontario and Quebec, which added 25,000 and 21,000 new jobs, respectively, Statistics Canada reported Friday.
But job losses in B.C., Alberta, Saskatchewan, Nova Scotia and Newfoundland and Labrador offset strong job markets in those two provinces.
The big loss of 71,000 the previous month had caused fears that an otherwise strong 2019 for jobs might end with a thud.
But December's reveals Canada's job market grew by 1.7 percent in 2019. That's better than 2018's pace.